A survey conducted by the Ark Group among CEOs revealed that almost 95% considered effective internal communication as the most critical factor for success. Surprisingly, only 22% believed that their own company's internal communication was up to the mark. David Grossman, in his book "The Cost of Poor Communications," indicated an average loss of $62.4 million per year for companies employing around 100,000 due to inadequate internal communication.
A quote from the Human Resources Today article How connection drives employee engagement: “With the recent shift of many employees working remotely, the connection seems to be universally craved now more than ever before. Connection is, in fact, a basic human need, residing on Maslow’s Hierarchy of Needs just above physical safety. And yet, research shows that 40% of employees feel isolated at work, leading to lower employee engagement.”
“The Times They Are A-Changing,” and sometimes changes come fast and furiously. The COVID-19 pandemic has caused many HR-managers and internal communications specialists to have a hard look at the way their company communicates with its employees. The rise of the remote workforce and an increased need for instruction, motivation, and monitoring employee wellbeing all point to one conclusion: the old internal communications tools are no longer up to the challenge.
In an article packed with employee feedback stats, HR influencer Maren Hogan discusses the value of feedback in organizations: